The election of Verona Murphy as Ceann Comhairle on Wednesday has paved the way for a coalition with the eight regional Independents.The support of Fianna Fáil and Fine Gael for Ms Murphy’s candidacy is seen as a significant step towards a deal being reached to form a government.

The 34th Dáil will get underway this morning and the election of a new Ceann Comhairle is the first item on the agenda. Four candidates are on the ticket: Fianna Fáil's Seán Ó Fearghaíl and John McGuinness, Sinn Féin's Aengus Ó Snodaigh and Independent TD Verona Murphy.

The Fianna Fáil parliamentary party has backed leader Micheál Martin’s endorsement of Independent Verona Murphy as the next ceann comhairle.

Ivana Bacik has confirmed that Labour is pulling out of formal government negotiations with Fianna Fáil and Fine Gael.Speaking on the plinth, Ms Bacik said talks with the two parties were exploratory,

Sinn Féin TD for Mayo, Rose Conway-Walsh has said that Fianna Fáil's determination to keep Fine Gael in government for almost 20 years is a 'disappointment to many'. The Erris-based TD was one of 39 Sinn Féin TDs who sat in Leinster House for the new Dáil term yesterday where Independent Wexford TD Verona Murphy was elected as Ceann Comhairle.

While there was some unhappiness in Fianna Fáil about the proposition of Verona Murphy for the role, there is also an understanding that while it "wasn’t the ideal situation” it was the “hand we’ve been dealt” in government formation talks.

The likely election of Independent TD Verona Murphy as ceann comhairle today is being seen as the price of power for ­Independents to join a coalition with Fianna Fáil and Fine Gael.

Byrne’s comments come after his party, Fianna Fáil, and Fine Gael both asked their TDs to vote for Murphy, as part of a deal with the Regional Independents.